John Silvester Varley
John Silvester Varley|
1 April 1956
Brook Green, Hammersmith, London|
Oriel College, Oxford|
University of Law
|Known for||2017 SFO fraud charge|
|Title||former CEO, Barclays|
|Spouse(s)||Carolyn Thorn Pease|
|Relatives||Sir Richard Pease, 3rd Baronet (father-in-law)|
John Silvester Varley (born 1 April 1956) is an English banker, and the group chief executive of Barclays from 2004 to 2011.
In June 2017, following a five-year investigation by the UK's Serious Fraud Office covering Barclays' activities during the financial crisis of 2007–2008, Varley and three former colleagues, Roger Jenkins, Thomas Kalaris and Richard Boath, were charged with conspiracy to commit fraud and the provision of unlawful financial assistance.
John Silvester Varley was born in Warwick. His father, Philip, was a solicitor in Coventry. Varley was educated at the Catholic Downside School at Stratton-on-the-Fosse south of Bath, becoming head librarian, then at Oriel College, Oxford (MA History), and London's College of Law.
Varley joined Barclays in 1982, as part of the Corporate Finance Department of the then Barclays Merchant Bank. Senior appointments with the successor bank, BZW (now Barclays Capital), included Deputy Chief Executive of BZW's Equity Division and head of BZW's offices in South East Asia. In 1995 he became Chairman of the Asset Management Division and from April 1998 to October 2000 was Chief Executive, Retail Financial Services. He joined the main Barclays board on 5 June 1998 and was Group Finance Director from 2000 until the end of 2003.
On 1 January 2004, Varley became Group Deputy Chief Executive, and on 1 September 2004 he succeeded Matthew Barrett as Group Chief Executive of Barclays. His annual salary from Barclays was £1,075,000. On 1 January 2011 he was succeeded as Chief Executive by Robert Diamond.
In June 2017, Varley was charged with conspiracy to commit fraud by the Serious Fraud Office.
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- Jill Treanor (1 January 1970). "Senior Barclays bankers charged with fraud over credit crunch fundraising | Business". The Guardian. Retrieved 20 June 2017.
- Moore, Malcolm. "Barclay's chief executive John Varley defends banking industry". Telegraph. Retrieved 21 June 2017.
- Treanor, Jill (15 June 2007). "Ping pong-playing banker chases a world ranking". The Guardian. Guardian Media Group. Retrieved 8 January 2008.
- Blackhurst, Chris. "The MT interview: John Varley". Managementtoday.co.uk. Retrieved 21 June 2017.
- Jill Treanor. "The Friday interview: John Varley, chief executive of Barclays | Business". The Guardian. Retrieved 21 June 2017.
- "John Varley (Chief Executive 2004-2010) | Barclays Group Archives". Archive.barclays.com. Retrieved 21 June 2017.
- "John Varley Profile". Forbes.com. Forbes. Retrieved 7 August 2009.
- "About Us," The Prince of Wales's Charitable Foundation Archived 24 March 2016 at the Wayback Machine., accessed 1 May 2013.
- Ben Martin, banking correspondent (16 June 2017). "Ex-Barclays boss faces 22 years jail if guilty of fraud". Telegraph.co.uk. Retrieved 21 June 2017.
- Carolyn Thorn Pease
- Jacques, Martin (23 April 2009). "The strangest bank of all". Newstatesman.com. Retrieved 21 June 2017.
- "How The Pease Dynasty is linked to the credit crunch | Business". The Guardian. Retrieved 20 June 2017.
- 8:02AM BST 7 September 2010 (7 September 2010). "Barclays: John Varley biography". Telegraph. Retrieved 21 June 2017.
- Evening Standard (21 January 2009). "The fat cats and their bonus bonanza | London Evening Standard". Standard.co.uk. Retrieved 21 June 2017.
| Group Chief Executive of Barclays plc